Credit Card Payoff Calculator
Compare avalanche vs snowball vs minimum-only payoff. See real interest saved, payoff date, and a per-card schedule.
Your cards
Sum of minimums: $205. Anything above goes to the priority card.
Balance over time
Strategies compared
Where each dollar goes
Per-card payoff order
About this calculator
A free, no-signup credit card payoff calculator that simulates exactly what happens to each of your cards month by month. It models monthly interest compounding, minimum payments, and any extra you put toward the highest-priority card based on the strategy you pick.
Avalanche vs snowball — pick the right one for you
Both strategies pay off the same total debt. They differ in which card gets the spare cash first.
Highest APR first
Mathematically optimal. Always pays the least total interest, usually the shortest time to debt-free. Best when you’re analytical and the per-card APR spread is wide.
Smallest balance first
Costs slightly more interest but generates fast wins — a card hits $0 quickly, which keeps you motivated. Best when you’ve abandoned payoff plans before.
How credit card interest actually works
Credit cards compound daily using the average daily balance. The APR is divided by 365 to get a daily periodic rate, then applied each day. If you pay your statement balance in full by the due date, most cards waive interest entirely on purchases (the “grace period”). Once you carry any balance into the next cycle, the grace period collapses and new purchases start accruing interest from day one.
That mechanic is why minimum payments are so dangerous: you’re always paying interest on yesterday’s interest. On a $5,000 balance at 22.99% APR with the typical 2% minimum, you’ll pay roughly $13,000 in interest over 30+ years if you only ever make minimums and never charge another cent. That’s not a typo.
Frequently asked questions
Is the avalanche or snowball method faster?
The avalanche method (highest APR first) is mathematically optimal — it always pays the least total interest and often the shortest time to debt-free. The snowball method (smallest balance first) costs more in interest but generates faster psychological wins, which helps people stay disciplined. For most multi-card scenarios with similar APRs the dollar gap is small, so the best strategy is the one you’ll actually finish.
How much extra should I pay above the minimum?
Even a small bump above the minimum saves a disproportionate amount of interest. On a $5,000 balance at 22% APR, paying $200/month instead of the minimum can cut payoff time from 30+ years to under 3 years and save thousands in interest. Use this calculator to see the exact impact of every extra $50 you can squeeze in.
Should I consolidate or use a balance transfer card first?
A 0% APR balance transfer card or fixed-rate consolidation loan can be excellent if you can pay off the balance during the promo period and your credit score qualifies. Watch out for 3–5% transfer fees and the post-promo APR. If you have steady income and good credit, modeling the loan rate vs your current weighted-average APR usually makes the math obvious.
How is credit card interest calculated?
Most issuers use the average daily balance method with daily compounding. The simulation in this tool uses monthly compounding at APR/12, which closely matches real-world results when you pay near the statement date. The day-of-month timing of payments can shift the actual interest by a few percent, but the order of magnitude is identical.
Will paying off cards hurt my credit score?
Paying down balances almost always helps. Lower utilization (the ratio of balance to credit limit) is roughly 30% of your FICO score. Don’t close the cards once paid — keeping the limit open while carrying a $0 balance reduces utilization and protects the average age of your credit history.
Related finance tools & reading
Tackle student debt alongside credit cards with the right payoff order.
See total interest cost so you can prioritise which debt to eliminate first.
Find out when your debt payoff puts you in a position to buy a home.
Find out exactly how much budget you can free up each month for debt payoff.
See how interest-vs-principal split changes over the life of any loan.
A deep dive into when each strategy genuinely wins.